Dollar Resilient Amidst Uncertainty Over Tariff Decisions

In a week marked by uncertainty surrounding international trade policies, the U.S. dollar showed notable resilience against major currencies. This comes as economic officials from the United States remain ambiguous about impending tariff escalations scheduled for August 1.

President Donald Trump announced that higher tariffs would take effect on Wednesday and hinted at further duties on countries opposing American economic policies, particularly targeting BRICS nations. This announcement caused currency markets to brace for limited volatility, with a slight increase in the dollar's position against some foreign currencies.

While the dollar index rose by 0.41%, hitting a one-week high, it remains down nearly 10% for the year, challenging its safe-haven status amid fears of a global economic slowdown. Investors continue to monitor trade negotiations involving Tokyo and Brussels, as their outcomes remain uncertain.

(With inputs from agencies.)